Why Dada Nexus Zoomed Nearly 12% Higher Today
Chinese food-delivery giant Dada Nexus (NASDAQ: DADA) saw its stock rise by 11.9% on Wednesday. Dada said in a press release that its JD Daojia (JDDJ) unit is partnering with Perfect Diary, a cosmetics business held by beauty products specialist Yatsen Holdings, to provide a new delivery channel for Perfect Diary's offerings. The Dada/Perfect Diary arrangement will see the two businesses "collaborate deeply in products management, digital marketing, targeted user operations, and order fulfillment optimization with a comprehensive omni-channel retail solution," Dada wrote.